Masan Group (MSN) Q1 2025 earnings summary

Executive summary

• Q1 net sales were VND18,896,538 million versus VND18,854,898 million YoY; net profit after tax rose to VND983,040 million from VND478,851 million.

• Profit attributable to equity holders was VND393,500 million versus VND104,356 million; basic EPS was VND260 versus VND73.

Financial highlights

• Gross profit was VND6,194,243 million versus VND5,254,838 million; net operating profit was VND3,709,832 million versus VND3,579,977 million.

• Profit before tax was VND1,222,369 million versus VND633,663 million; income tax expense was VND239,329 million versus VND154,812 million.

• Financial expenses were VND1,882,532 million versus VND1,899,341 million, including interest expense of VND1,392,622 million versus VND1,621,898 million.

Segment performance

• Branded consumer products: external revenue VND6,972,924 million versus VND6,161,436 million; segment results VND1,693,507 million versus VND1,456,364 million.

• MEATLife: external revenue VND1,373,756 million versus VND1,207,563 million; segment results VND61,130 million versus VND3,873 million.

• High-tech materials: external revenue VND1,392,705 million versus VND3,089,470 million; segment results VND107,932 million versus a loss of VND296,674 million.

• Consumer retail: external revenue VND8,689,001 million versus VND7,927,335 million; segment results VND59,176 million versus a loss of VND89,296 million.

• Others: external revenue VND468,152 million versus VND469,094 million; segment results VND745,181 million versus VND1,011,023 million.